Sensex, Nifty close at record highs, Telecom stocks surge, Nifty Prediction Tomorrow

Key Benchmark indices Sensex & Nifty touched record highs after scaling record peak levels in intraday trade, tracking the global equity strength on the back of strong economic data. Investors were on watchful for December quarter earnings, and forthcoming Union Budget for further cues, while Asian markets climbed closer to record levels on Friday. 

Shares Yes Bank, Bharti Airtel, Adani Ports, Bajaj Finance and IndusInd Bank emerged as the major gainers with Yes Bank rising above 6.5 percent intraday on Friday. 

Nifty moves at fresh life time high and closed above the 10,550 mark. The BSE Sensex closed higher by 184.21 points, or 0.54%, to 34,153.85, while the Nifty 50 rose 56.45 points, or 0.54%, to 10,561.25. Shares of Tech Mahindra, HCL Technologies, TCS, Wipro and Infosys were lower to some extent on strong rupee. 

Except the Nifty PSU Bank index, all the other sectoral indices closed with smart gains. Nifty Media index led the up-move followed by PSU banks. Oriental Bank of Commerce and Canara Bank were the two PSU bank stocks that managed to settle in the green. 

Nifty Bank Index spiked as RBI may give additional dividend FY 2018. In the Nifty-50 shares, YES Bank, Adani Ports SEZ, Bajaj Finance, Bharti Airtel, IndusInd Bank, Dr Reddy’s, Lupin, Tata Steel, Eicher Motors, HDFC, TCS and Indiabulls Housing Finance emerged as the top gainers. 

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Sensex, Nifty close marginally higher; Axis Bank, ONGC top gainers

Key benchmark indices recovered from losses to close marginally higher on Monday. The market opened lower as broader sentiment was diminished after Standard & Poor’s (S&P) retained the country’s sovereign rating which kept its India rating unchanged at the lowest investment grade of BBB–with a stable outlook. Traders also waiting for the GDP data for the third quarter due on 30 Nov 2017. 

The BSE Sensex closed higher by 45.20 points at 33,724.44, while the NSE Nifty 50 gained 9.85 points to close at 10,399.55. 

Stocks of Power generation companies such as NTPC, GMR Infrastructure, Torrent Power, Reliance Power, Reliance Infrastructure, CESC, Tata Power Company and NHPC edged higher, whereas Jaiprakash Power Ventures and JSW Energy edged lower. 

NTPC, Axis Bank, Zee Entertainment and ONGC gained the most on Nifty50, while Infosys, HPCL, Bajaj Finance, Adani Ports, and Tata Motors were the top losers. Nifty Midcap and Nifty bank index have close at record closing highs. 

Financial stocks lead support while the Information technology and FMCG stocks were top laggards, ahead of expiry of November futures & options (F&O) contracts and OPEC meeting on oil output cut later this week.

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